More than 3,000 stores are expected to close over the next several months. The scale of the looming job losses hasn't yet been revealed, but it will likely number in the tens of thousands. JCPenney, for example, is closing 138 stores and says 5,000 workers will lose their jobs as a result. The retail apocalypse is creating a 'rolling crisis' that is rippling through the US economy
The retail apocalypse is creating a 'rolling crisis' that is rippling through the US
- Thread starter Deliverances
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The traditional storefront has been replaced with the online storefront. Today, my family buys more than 50% of all goods, including groceries online. The price is the same as in the store, and almost everything is shipped free. That will probably increase to 90% over the next few years. Look for downsizing in most retail outlets.
If you are in, or planning to enter the retail sales industry, I suggest planning a career change.
If you are in, or planning to enter the retail sales industry, I suggest planning a career change.
M
Most will do what happened in the UK.
I work as a civil servant for the government.
Before the recession hit in 2008, each case worker got may 1 bankruptcy/liquidation
case every 6 months.
Then end the recession hit and 3/4 of cases involved insolvency.
They just set up new companies and continued to trade under different names.
Changes of Entity we call them.
Insolvancy just seems to mean a fresh start for limited companies.
It was non limited companies who were hit the hardest, but many of them
got through as well.
There are ways and financial means of companies continuing to trade, if you
have clever accountants and commercial sense.
I work as a civil servant for the government.
Before the recession hit in 2008, each case worker got may 1 bankruptcy/liquidation
case every 6 months.
Then end the recession hit and 3/4 of cases involved insolvency.
They just set up new companies and continued to trade under different names.
Changes of Entity we call them.
Insolvancy just seems to mean a fresh start for limited companies.
It was non limited companies who were hit the hardest, but many of them
got through as well.
There are ways and financial means of companies continuing to trade, if you
have clever accountants and commercial sense.